Umicore drops 11% after GBL halves its stake

Umicore SA

18/11/2025 08:34

** Shares in Umicore UMI.BR fall around 11% to their lowest price since early October after Groep Brussel Lambert (GBL) GBLB.BR cut by half its stake in the Belgian metal recycling company

** Belgian holding company GBL completed sale of 19.6 million Umicore shares via accelerated bookbuilding offering priced at 15.35 euros per share

** That represents a discount of 8.8% to Umicore's Monday close of 16.83 euros

** "As Umicore’s share price recovered sharply this year, the timing makes sense," KBC Securities says, adding move is not really surprising

** Shares fall to the bottom of Belgium's BEL 20 .BFX index, on track for their worst day since March 2020 if losses hold

(Reporting by Olivier Cherfan)

((olivier.cherfan@thomsonreuters.com))